Third quarter 2023 results: highlights

At the end of September 2023, Intesa Sanpaolo delivered its best nine months ever, with €6.1 billion Net income, of which €1.9 billion in Q3.

For Intesa Sanpaolo, it was also the best nine months ever for Operating income, Operating margin and Gross income.

The results achieved permit 2023 guidance to be raised to above €7.5 billion, and with 2024 and 2025 Net income to be higher than that of 2023.

With the highest dividend yield in Europe (11.5%), €4.3 billion in dividends have already been accrued in the first three quarters of the year, of which €2.6 billion are to be paid as an interim dividend on 22 November 2023.

Intesa Sanpaolo also further strengthened its Zero-NPL status, with a strong liquidity position and a very diversified and sticky deposit base.

Intesa Sanpaolo's profitable and efficient business model also allows it to further strengthen the Group’s world-class position in Social Impact, with contribution of around €1.5 billion over the 2023 – 2027 period, and around 1,000 dedicated People.

Significant tech investments have been made, with the new digital bank isybank launched and operating successfully, based on the Group’s new tech infrastructure (isytech).

Following are some key highlights from Intesa Sanpaolo’s 9-month 2023 results

• €6.1 bln Net income in 9M (+85% vs 9M22), the best 9M since 2007
• €1.9 bln Net income in Q3 (+99% vs 3Q22), the best Q3 ever
• 2023 Net income guidance raised to above €7.5bln, confirming a 70% cash payout ratio with additional distribution for 2023 to be quantified at full-year results approval
• Best 9M ever for Operating income (+19% vs 9M22), Operating margin (+37% vs 9M22) and Gross income (+67% vs 9M22)
• Lowest-ever 9M Cost/Income ratio (41.9%) with Operating costs essentially stable (+0.7% vs 9M22)
• Zero-NPL Bank with lowest-ever 9M NPL inflow, driving lowest-ever 9M Cost of risk (28bps annualised)
• Fully phased-in Common Equity ratio at 13.6%, well above regulatory requirements even under the EBA stress test adverse scenario

More information on the 3Q 2023 financial results together with the outlook and main industrial initiatives of the Intesa Sanpaolo 2022-2025 Business Plan, are available in the Group’s Investor Relations section.